Ng meets with G7 Trade, Investment Ministers

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#Canada @mary_ng #G7

Mary Ng, Minister of International Trade, Export Promotion, Small Business, and Economic Development, on Wednesday, met with her G7 trade and investment ministerial colleagues to continue coordination efforts with respect to Russia’s invasion of Ukraine and to move forward on reform priorities ahead of the World Trade Organization’s 12th Ministerial Conference.

At the meeting, she unequivocally condemned Russia’s egregious invasion, which is a direct challenge to the rules-based international order. She reaffirmed that Canada stands resolute against authoritarianism and with a free and democratic Ukraine, now and in the future.

She also thanked her G7 counterparts for their cooperation on trade measures taken in response to Russia’s invasion of Ukraine, including efforts to follow Canada’s lead in revoking most-favoured-nation (MFN) status for Russia and Belarus.

The Canadian minister asserted that those who do not support the rules-based international order should not benefit from it.

The Minister emphasized that in taking steps to ensure that Putin’s regime and its close associates do not continue to benefit from the rules-based trade system, the G7 is working to mitigate the war’s impact on members’ economies and global supply chains.

Ng sought support to advance negotiations at the WTO on issues such as fisheries subsidies and trade and health.

The Minister also engaged with her G7 colleagues on efforts to modernize international trade rules to better address market-distorting practices, including industrial subsidies and overcapacity in certain sectors of global production.

“Canadian workers, companies, and entrepreneurs benefit from rules-based international trade, as do economies around the world. We are working closely with international partners to hold Russia accountable for its egregious invasion of Ukraine and to ensure that those who violate the international rules-based order do not benefit from it. Alongside all our allies, Canada stands resolute against authoritarianism and with a democratic Ukraine, now and in the future,” she said.

 

 

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